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The Pound takes a hammering ..... again!

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Re: The Pound takes a hammering ..... again!

Postby RichardB » Wed Oct 05, 2016 10:07 pm

GreekIslandGirl wrote:Every day, more and more iron bars go up. Brits are trapped in and "others" are trapped out.

Meanwhile slave labour continues to rise as the biggest form of employment (1 Million and rising are the modish ZERO hour contracts, yeah) leaving the average household beholden to borrowing from banks (yipee) to survive or scrounging from (ever increasing) food banks to sustain their families (tralala).

Never mind - British soldiers can now kill at will and will be exempt from 'human rights" dilemmas (wowee) and get off Scott free whatever they do abroad (phew!).

And finally, if you're a foreign student expecting to pay good money for some much-touted British education - Theresa May says FUCK OFF FOREIGNER!

Poor, poor Brits! Will no one come to save them from the fascist regime ....


Well young lady !
This Is the most serious post I have seen from you in a long time.

Unfortunately from a British view I must agree with what you said.

Some people tend not to realise what is really happening here in the UK

lts certainly not big and unfortunately it's not at all clever

good post
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Wed Oct 05, 2016 10:08 pm

Maximus wrote:You keep referring to unemployment but we have already established that that alone does not tell us the whole story. You have just found one economic indicator that is good and you're hammering it to try to win a debate. Put it in to context, the UK employment figures has not managed to win it for the economy. If it did, Carney would not be doing what he is doing.

Unemployment has been falling but the UK's current account deficient has been widening. What does that tell you?


Yes everywhere I have been it is a major indicator. Unemployment wouldn't be so low in Britain's case if business was striggling and business relies on consumer confidence or spending. Another indicator is the real estate market and construction. I don't see any evidence of a weak economy. All I see is that Britain is actually in the cream of the crop as far as economy is concerned. They have been incredibly resilient. Not many countries have managed to navigate the GFC as well as Great Britain. They are very lucky and that should hold them in good stead for the future.

BREXIT is also very exciting for them. They are now as independent as Australia is. They have a Central Bank and they were lucky enough to not have been conned out of the Sterling for the ailing Euro. They can control interest rates as it suits them at the time. Cyprus can't do that. All you get is bitter austerity medicine. In other words, you are now slaves and bitches. Slaves need a Master and you have yours giving it to you nice and good!
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Wed Oct 05, 2016 10:15 pm

Robin Hood wrote:
Maximus wrote:You keep referring to unemployment but we have already established that that alone does not tell us the whole story. You have just found one economic indicator that is good and you're hammering it to try to win a debate. Put it in to context, the UK employment figures has not managed to win it for the economy. If it did, Carney would not be doing what he is doing.

Unemployment has been falling but the UK's current account deficient has been widening. What does that tell you?


Just 'figures' regarding employment mean nothing. If you are replacing lost jobs in industry and manufacturing with service jobs or in retail, then although there maybe fewer unemployed the pay and skill level is lower.

Carney is or has already pumped another £70bn into QE. I believe this has been given to the banks on the condition that most of it will go to SME's and start-ups. Some how I think that is wishful thinking.

Paphitis has explained how the financial system can be used to make money but, it is far more important that the UK rebuilds its industrial and manufacturing sector to be more internally sustainable and starts people spending into the economy.

IMO: The banks and financial sector create very little wealth. Some say the Government makes a lot of money from them in taxes? Maybe so but, that money has never been in the economy! It is taken out before it can be spent and used to repay loans to the banks!

The UK will come out of this much stronger in the long run and the pound will recover but I think we will see this happen not so much because the UK becomes a power house like Germany but because the whole global economy seems to be in a mess and we have already started to build our defences up ..... because we are leaving the sinking ship against The Captains wishes ! :roll:


The U.K. Has plenty of manufacturing. High quality manufacturing of cars, and aircraft. The days of manufacturing clothing, kitchenware and consumer electronics is over for the OECD because we can never compete with economies that pay $2 per hour. You wouldn't buy these products off the shelf because they would be non competitive and too expensive compared to other products.

It's as simple as that. Hence why the reliance on high end products such as Rolls Royce, Bentleigh, Jaguar and Range Rover.

Germany does the same. They don't exactly build Toyotas in Germany but more high end motoring.

In Australia, they are positioning for high end Defence Industries. For example, building ships and the most advance submarines for the Navy.

The car manufacturing is also headed to expensive high end motoring like the HSV which mainly build high performance cars that will knock the socks off your feet all at a hefty price tag I might add.
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Wed Oct 05, 2016 10:20 pm

miltiades wrote:Robin:
"we are leaving the sinking ship against The Captains wishes ! "
Indeed we ...are, we jump in the dark seas and we drown. Robin, the dire consequences of the decision by the little Englanders and the geriatrics on June 23rd will haunt us for years to come.

The pound is tumbling, many small businesses , such as mine, are feeling the effects already. Sooner or later big businesses will also feel the pinch.
I'm involved in business daily, 6 days a week, I can see how similar small businesses, the backbone of the British industry are suffering. Well at least out NHS is now ....better off to the tune of bullocks per week. :lol:
By the way how is your pension money, are you happy receiving almost 15% less euros than before the geriatrics voted out.
Mate, this is by far the worst decision taken by the nation in a generation, the repercussions will be severe in the not too distant future.


There is nothing sure about the BREXIT. Britain has no slave mentality. You look at little Cyprus. It has to take its medicine or else, because Germany said so.

Might be ok for Cyprus but it ain't ok for Britain.

As for FTA, they will still have it with the EU. Hence Britain has the best of both worlds. They will also have a FTA with USA and Australia no problems.
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Wed Oct 05, 2016 10:22 pm

GreekIslandGirl wrote:Every day, more and more iron bars go up. Brits are trapped in and "others" are trapped out.

Meanwhile slave labour continues to rise as the biggest form of employment (1 Million and rising are the modish ZERO hour contracts, yeah) leaving the average household beholden to borrowing from banks (yipee) to survive or scrounging from (ever increasing) food banks to sustain their families (tralala).

Never mind - British soldiers can now kill at will and will be exempt from 'human rights" dilemmas (wowee) and get off Scott free whatever they do abroad (phew!).

And finally, if you're a foreign student expecting to pay good money for some much-touted British education - Theresa May says FUCK OFF FOREIGNER!

Poor, poor Brits! Will no one come to save them from the fascist regime ....


If you are involved in slave labor the can you please explain how on earth you can borrow from a Bank? Banks won't touch you unless you can prove servicing and that is presumably not possible if you are below minimum wage.
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Re: The Pound takes a hammering ..... again!

Postby Robin Hood » Thu Oct 06, 2016 7:49 am

Paphitis:
Understand money? What is there to understand other than the fact that money is a commodity. It doesn't have to exist as long as the Banks can maintain their ratios and keep up with money supply. That is the bottom line.

It's a rational system and it is that which has created substantial wealth creation and jobs.

That is it!

As I said, you do not understand the concept of ‘money’ creation .... otherwise you would not make that comment.

(Let’s use ‘money’ as the description as that is what it is commonly called but in fact it is ‘currency’ and fiat currency at that. Until 1971 it was backed by Gold .... after that it was backed by NOTHING !)

The system is far from being rational. You agree that ‘money’ per se does not exist .... and you are correct, well for around 97-98% of it ........ the numbers are ledger entries and have no value.

Money has become a ‘commodity’ through the actions of the banks as it is a commodity they can produce out of nothing ..... therefore it has no intrinsic value. It is simply 010001011100101's in a computer. Currency serves as a means of putting a valuation to wealth and as a means of transfer of wealth from one place to another. When it was backed by gold that made sense ..... but the banks discovered that they could keep adding numbers to their ledgers with nothing to back it ..... they don’t even need deposits any more. Having created debt, they create new money on a ratio of 1:1 ......... for every unit of debt they create, they also create the same unit amount as new currency.

All they need is the ability to freely create ever more debt and they have that ability. Hence western economies are all debt based. This is beginning to fall apart and the consequences will be catastrophic! More so for those that ’have’ a lot of money/shares/investements etc. than those that ‘have not’. :roll:
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Thu Oct 06, 2016 8:18 am

I understand more than you do and I have no issue at all with the way the system works. You however do, which is your issue.

Debt is not a bad thing at all as long as the debtor has the assets to support the leveraging and uses the money for investment or business purposes. It creates jobs too, hence earnings for working people.

If you don't like Western society, then you better buzz off to North Korea.
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Re: The Pound takes a hammering ..... again!

Postby Robin Hood » Thu Oct 06, 2016 10:06 am

Paphitis wrote:I understand more than you do and I have no issue at all with the way the system works. You however do, which is your issue.

Debt is not a bad thing at all as long as the debtor has the assets to support the leveraging and uses the money for investment or business purposes. It creates jobs too, hence earnings for working people.

If you don't like Western society, then you better buzz off to North Korea.


Your usual measured response. You think the system is perfect ..... fine .... that is your choice. From your remarks, both now and in previous threads, I know just how little you know about the monetary system. :roll:
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Re: The Pound takes a hammering ..... again!

Postby Lordo » Thu Oct 06, 2016 12:47 pm

RichardB wrote:
GreekIslandGirl wrote:Every day, more and more iron bars go up. Brits are trapped in and "others" are trapped out.

Meanwhile slave labour continues to rise as the biggest form of employment (1 Million and rising are the modish ZERO hour contracts, yeah) leaving the average household beholden to borrowing from banks (yipee) to survive or scrounging from (ever increasing) food banks to sustain their families (tralala).

Never mind - British soldiers can now kill at will and will be exempt from 'human rights" dilemmas (wowee) and get off Scott free whatever they do abroad (phew!).

And finally, if you're a foreign student expecting to pay good money for some much-touted British education - Theresa May says FUCK OFF FOREIGNER!

Poor, poor Brits! Will no one come to save them from the fascist regime ....


Well young lady !
This Is the most serious post I have seen from you in a long time.

Unfortunately from a British view I must agree with what you said.

Some people tend not to realise what is really happening here in the UK

lts certainly not big and unfortunately it's not at all clever

good post

its funny how she can see it in uk but she is blind to the fact that she is exactly the same as them regarding cyprus. and she is not even a full blown cypriot she is only half.
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Thu Oct 06, 2016 1:28 pm

Robin Hood wrote:
Paphitis wrote:I understand more than you do and I have no issue at all with the way the system works. You however do, which is your issue.

Debt is not a bad thing at all as long as the debtor has the assets to support the leveraging and uses the money for investment or business purposes. It creates jobs too, hence earnings for working people.

If you don't like Western society, then you better buzz off to North Korea.


Your usual measured response. You think the system is perfect ..... fine .... that is your choice. From your remarks, both now and in previous threads, I know just how little you know about the monetary system. :roll:


There is no such thing as a perfect system. The system is influenced by human sentiments and emotion.

But it has been working very well for decades. And it is raising people's living standards.
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